Donating Securities

Each must do as already determined without sadness or compulsion, as God loves a cheerful giver. -2 Corinthians 9:6-8

Donors often find advantages by giving appreciated securities, mutual funds or other personal property that were purchased some time ago at a much lower value. If sold on the market, the gain on these assets would generate taxable capital gain income. By giving these assets to charity, this capital gains tax will never be assessed and you will achieve your goal of benefiting your favorite cause.

Donating Securities and Mutual Funds

Donating appreciated stock or mutual fund shares is a strategic gift-planning method. The donor receives an itemized deduction in the amount of the fair market value (FMV) of the shares donated as of the date of the gift. This value is deductible up to 30% of the donor’s adjusted gross income and can be carried over for up to five years after the year of the gift.

Procedure

To accomplish a gift of securities or mutual fund shares, contact our office at (816) 714-2363 or 816-714-2359.

Most securities or mutual funds are in “street name” and held by a brokerage firm. To accomplish a gift of these assets, it will be necessary to wire transfer instructions using our diocesan brokerage account. The Diocese of Kansas City-St. Joseph is designated as Catholic Diocese of Kansas City-St. Joseph, Wells Fargo Advisers Account #5328-3701, DTC #0141. Please contact Linda Maclean at (913)234-7704, Fax (913)234-7718 or linda.maclean@wellsfargo.com.

In any case, it is necessary to identify the shares to be given; the account number(s) of the Delivering Firm; the parish, ministry or school that is to benefit from the proceeds of the gift. By contacting the numbers listed above, a form for this purpose can be provided to facilitate the orderly collection of this information.

 DTC Transfer Form

Note well:

When executing a gift of securities or mutual funds, it is necessary to notify:

  • your broker or financial adviser
  • the diocese’s broker listed above and
  • the diocese at the numbers listed above.

©2017 Diocese of Kansas City–St. Joseph

X
- Enter Your Location -
- or -